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Below is an Interesting article I found, which says that.....Do not 8 J4 E; Q' q6 ~ |, ]
expect much from Crude Oil producers and future is not with the ' c$ c' m3 p( W4 j
companies producing Jet fuels but Biofuels. Also no wonder if some of 7 L" x2 q8 G7 y. p/ d$ \
these oil producer will go bankrupt or out of the business even if , L8 x) x% Z0 P1 @% b5 G6 q
crude prices improves. This implies also to good names such as Shell, 2 u+ K- y/ T, V( u9 \
EXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few 2 g' d' W+ N2 Q6 j& m! N
months. There are three wars going on in Gaza, Iraq and Afghandistan.
0 [6 z3 G* Y7 ~: i! h( ^; kA year ago these things would have spiked the price of crude oil by at : M+ l& ] M$ @3 C+ J: ~* X, I
least $50.00 per barrel. Today, oil price declined by a record amount. - @0 v7 d) d% [3 e
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There are several reasons the price of oil is decreasing in the face
" k$ E0 I* C/ J% n9 g; u- |5 c0 x' f: Tof so much news. These reasons are: 0 a, M _4 J$ A" L
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1. New oil has been found in Canada, Montana, North & South Dakota and
1 ]9 ^' T' `" D8 c" Q( i0 kin the ocean near Brazil. Each of these oil fields has more oil than
7 J0 ^$ {: x% d7 KArabia. . B% Z& O7 _ a- `1 A
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2. New natural gas has been found in Pennsylvania and West Virginia. 5 F# O% N$ E6 i: U
This is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
! N/ j2 Z8 d4 n% u3 H* L: _being used to double their output. - c% }' l0 \ F
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4. Production of bio-fuels is beginning to reach critical mass. Bio % ^ E8 u( _ p) W* r5 N
fuel is being produced from many plants and algae. The production
0 e$ K8 K. v: U ]: m3 }$ Xpotential per acre in some cases is astounding. Many countries are . Q3 z! `2 U4 w0 r
racing to produce bio fuels.
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/ C8 g+ U6 x( N5 C; \5. Virtually every restaurant in the US and all food processing plants
" y) ]' ?7 O5 uare now selling their used oil to bio-diesel producers. Every pork, $ g; U! b Q) I+ X. E
cattle, turkey and chicken processing plant will soon sell their fat + q) G( F0 U5 ~
to bio-diesel producers. One pork processing plant in Oklahoma is ) g# R0 n0 |7 j5 a
producing 30,000 gallons of bio-diesel per day from pork fat. ' C0 B! G) q/ |4 `6 P! s
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# O$ t X* o" D @% f l6. There are 99 nuclear reactors in various stages of planning and ) Z6 [) l2 |+ r
construction around the world at this time. Several hundred more are
! u! s x( I+ X4 G; ?# z) ]6 {expected to be built in the future. Much of the energy they produce
; {6 n, F4 w pwill replace oil.
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. X; H# u2 t* Y, c7. Every company in any form of transportaion business is replacing
6 x, O* E! s) X! Z4 B4 t8 M; P3 E- `- ?older equipment such as trucks, airplanes, train engines, ships, etc. 4 A5 w1 N+ S; m
with new more fuel efficient equipment. Airlines and railway companies
, S. f3 F$ v6 e0 @/ _9 _# kare experiencing 20% to 25% better fuel econony with the new 3 f- E2 o% P1 |* F! I% \* \
equipment. 2 ^" F& p2 V$ ^# p) n9 e
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^6 l r' k% t/ {0 i g ^Airlines are flying airplanes with bio-fuel. They are finding the bio-
: I, N) ~0 g9 I; Dfuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to
* z B. c$ q& ?capture methane gas from landfills. This is a huge source of gas " v$ b% n0 L; v! c/ Z
available at very little cost or risk. The gas is displacing crude
. \1 B, [6 P. D# K$ eoil.
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! X0 p( H- o+ X- [% {# V N3 M9. Coal is being transformed into a clean burning liquid fuel. The CO2 $ e8 ?* h) A) x) c% W7 N. ?, x
produced as a byproduct is sold to oil companies for injection into ! a: ]& Z- z2 g% q8 D
oil wells. : Q5 E ^" L3 W+ }
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. S: B x& i( |, I8 e8 t10. Solar, wind and ocean energy is displacing oil as an energy 0 F. |% e1 O2 ?1 g% b- y6 J
source. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the & A3 A' ~% @7 [
price of crude oil but the sum of all of them together is world
7 G0 H: ~) N6 z& e" }changing. The important thing is that OPEC no longer has the ability
- G3 Q# d) |4 O4 W! p: ~to control oil prices. # [9 a' h, W9 J$ e7 {. j, K* {" b! d5 ^
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With the above scenario, I still believe that there are under 6 ?5 @0 q: Q6 Z$ X; G6 r7 ]
performed OIL companies and probably they are yet to get the justified
; ~1 n7 j, u& ovalue .....
7 g% c8 B, o) B/ J4 k6 ZIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... - {4 N4 w% k' r$ F
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! J7 n b8 F. N8 J0 gThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
Z0 m8 U6 ?2 {& X2009 ... FYI-Only |
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